Thomas' Calculus 13th Edition

Published by Pearson
ISBN 10: 0-32187-896-5
ISBN 13: 978-0-32187-896-0

Chapter 4: Applications of Derivatives - Section 4.5 - Applied Optimization - Exercises 4.5 - Page 226: 52

Answer

$67$

Work Step by Step

Step 1. Assuming the total number of people is $x, 50\leq x\leq 80$, the total cost will be: $cost=6000+32x$ Step 2. The total income will be: $income=xp$ where $p$ is the price per person and $p=200-2(x-50)=300-2x$ Step 3. The total profit will be $P=x(300-2x)-6000-32x=268x-2x^2-6000$. Take its derivative to get $P'=268-4x$ and let $P'=0$ to get $x=67$ . Step 4. Check $P''=-4\lt0$, indicating a concave down region with a maximum. Thus the above $x$ value will give a maximum profit.
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.